Latest / The Curve / BYD Overtakes Tesla, Eggs Cross Borders, and a Fresh IPO Hits the Market.

Transcript

BYD Overtakes Tesla, Eggs Cross Borders, and a Fresh IPO Hits the Market. · The Curve

0:00
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And if you would like to learn more about Tempo, you can head to the link in the podcast show notes.
1:02
So, so if I haven't called up in a while, so this was not the most financial chat podcast.
1:11
But we did talk about BYD and Tesla, very hot topic at the moment.
1:16
We spoke about it upcoming IPO and the price of eggs.
1:21
Look, in all honesty, this was almost heavy hitting journalism episodes.
1:25
But a fun one.
1:27
Many laws.
1:28
Yeah.
1:29
We'll put in the podcast show notes if you're only interested in finance chat where you can find that.
1:39
It's so weird doing like my morning and your evening.
1:42
I know, I'm like slowly falling asleep.
1:45
Sorry, I know, and I was late by like half an hour, so shit.
1:49
Like the worst co-host.
1:50
Yeah, but I'll be there in five.
1:51
I'll be there in five.
1:52
I'll be there in five to 25 minutes later.
1:56
And obviously this is at night.
1:58
So you've got nothing to do.
2:00
You're just sitting there falling asleep waiting for me.
2:02
Yeah, in event today.
2:03
And I was like, aww.
2:04
So I just record from home.
2:05
I was like, no, you're in London with the studio.
2:08
Like do not be lazy and not going to the studio.
2:11
Did you listen to the podcast the last couple of weeks?
2:13
Did you hear Rachel?
2:14
I did.
2:15
I feel like I'm out of a job.
2:16
Was it cheap brilliant?
2:17
Honestly, it's so funny because I was like prepping
2:19
for when I got back to stuff to talk about.
2:21
And then I was like, oh, no, it can't talk about the poppy thing.
2:23
Oh, no, it can't talk about BYD.
2:25
Oh, stealing my thunder.
2:27
I was like, girl.
2:28
Yeah, she did such a good job.
2:29
She did such a good job.
2:30
I just loved how both of us were like,
2:33
if I could be listening to this, you know,
2:35
we want to make sure this is good.
2:36
We want to make sure we're like, factually can react.
2:39
No pressure.
2:40
No pressure.
2:41
No pressure at all.
2:42
So this morning, I'm going to.
2:45
I was about to, like I was thinking, how do I say it?
2:47
I was about to be like Harris Tapper, friends of ours.
2:50
And I was like, I mean, they are.
2:52
But also your sister's brand.
2:54
And anyway, they're having a sample sale this morning.
2:58
And I'm, I have been putting money into my clothing account
3:03
for like six months and haven't bought anything.
3:07
So I have like an amount of money that I can spend
3:10
without feeling really guilty and go and get some new clothes,
3:14
which I'm so excited about.
3:16
And one of my friends who was going to meet me there,
3:19
she was like, what's your budget for today?
3:21
And I was like, actually, let me go check
3:24
and I opened my accounts.
3:26
And I looked at my clothing fund.
3:28
Guess how much money I've saved in that account?
3:31
I don't know.
3:32
700 pounds.
3:34
Nice.
3:35
So that's like $1,400 New Zealand dollars
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that I can spend on clothes without being like,
3:39
oh my God, that's terrifying.
3:41
How good is that for me?
3:42
What if you invest it though?
3:43
The market's down.
3:44
Yeah, I mean, no, no, no.
3:46
See, this is the thing though.
3:47
I'm like, I don't often spend money on clothes.
3:51
Like, you know, I don't.
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And that kind of needs to last me for like six months of clothes.
3:56
So I'm leaving it in there for when I need something.
3:59
It's in a high interest savings account.
4:00
So it's not like my transactional account.
4:02
It's getting some interest.
4:03
But I would rather have that there than invest in the market.
4:07
Now, I'm really happy with the fact
4:09
that that's money put aside specifically for that.
4:12
Yeah.
4:13
Don't add there.
4:14
You bought new, new sunglasses like three weeks ago.
4:17
Sorry.
4:18
From the girl that never buys anything.
4:21
Can you bear that most of the weight?
4:22
That is good.
4:23
That is good.
4:24
I'm just trying to bet you're like older wiser sister.
4:27
Not much.
4:28
But I reckon I'm older and wiser when it comes to budgeting than you.
4:30
No.
4:31
I think that $1,400 the market is on sale right now.
4:35
And you're going to go spend it on clothes.
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For your lady.
4:39
Or appreciate value more over time.
4:41
Why don't you spend half of it?
4:42
Not all of it.
4:43
Yeah.
4:44
I'm definitely not going there being like I'm ready to blow $1,400.
4:48
Like that's not what I'm doing.
4:50
Do you think it's stupid having money in a high interest savings account right now?
4:53
No.
4:54
But I mean.
4:55
But that's kind of what you're saying.
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If I had extra cash I'd be putting into the stock market right now.
4:59
But define extra.
5:01
Like instead of spending money on clothes right now I'd be putting into the stock market.
5:04
But I've got quite a bit of like I've got money in my holiday fund.
5:08
I've got money in my.
5:09
Are you saying all of that?
5:11
I should really just be putting into the market rather than not all of it.
5:14
I'd just be.
5:15
I'm just I'd be a bit more excited to put money in the stock market right now.
5:19
So instead of being like oh my god I'm going to go out for dinner
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and spend some of my nights to have money I'm excited to invest that extra amount this month
5:28
because the stock market's down.
5:30
So I am over investing in the stock market right now.
5:33
I'm extra teaching myself to invest in the stock market rather than
5:37
structuring myself to like buy something else because I know this is like these opportunities
5:41
don't come around very often.
5:42
I have my emergency fund.
5:44
I have my travel fund.
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I have my clothing fund.
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Like I've got quite a bit in high interest savings accounts.
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So I have quite a bit of cash in the bank right now.
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Which I realize and I realize it's a buying opportunity in the market.
5:59
Do you think because it's down that it's an opportunity to put some of that money
6:04
in even if I plan on using it in four months time?
6:09
Do you know what I mean?
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Like because it's not like it's just don't use it.
6:13
It has been allocated somewhere.
6:15
Yeah.
6:16
Like is it stupid to go and put money that's been allocated?
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For example, some of my travel money I have to buy flights with.
6:23
Like I have to buy flights for a friend's wedding.
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I just haven't done it yet.
6:28
So would it be stupid to go and put money in that I need to spend within the next six months?
6:34
No, sorry.
6:35
I thought that was like I would be more like the restaurants and the like clothing allowance
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and the stuff that like you don't have to have the money for if that makes sense.
6:44
You can say no to a few more things.
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Whereas a wedding holiday and there's like a wedding holiday.
6:51
Like you have to go to the wedding holiday.
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And what about my beauty account?
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Because I've got like four hundred pounds in my beauty account.
6:57
It's like do I choose to spend not like I need to go get new make up at some point?
7:02
Do you know what I mean?
7:03
Like it's money that it's like it's airmarked for something.
7:06
It's not like I'm just sitting there because I think it's fun to have money in that account.
7:11
Do you know what I mean?
7:12
Like I'm like because you now you're giving me pharma.
7:13
Should I be putting all of that in?
7:15
No, you've put your budget.
7:16
As long as you still want to be staying there, that's fine.
7:18
I just think it's more like if anyone has spare money or can afford to be a bit more strict in terms of their spending.
7:26
You know maybe they've allocated four hundred dollars a month to buy new clothes.
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It's like okay this month I'm just going to do two hundred and put the other two hundred in the stock market.
7:34
Do you know?
7:35
Like it's not money allocated for certain goals or certain things.
7:39
But I really want you to ask me how my Japan holiday was.
7:42
Sorry, sorry, sorry.
7:46
Tell me about your holiday.
7:47
I would love to hear about your holiday.
7:49
It was a really good.
7:50
Thanks for asking.
7:52
So yeah, what was the best part?
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Was your favorite part of Japan?
7:56
The food.
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Hands down.
7:58
Ramen.
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Sashimi.
8:00
Like the lollies, the candy.
8:03
Like the saki.
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These egg sandwiches.
8:07
Like everything was just like.
8:08
Oh yeah, I saw you eating heaps of those.
8:10
What was that?
8:11
They're like clouds.
8:12
And they're like these clouds of deliciousness in your mouth.
8:17
Anyway, is it like tip-top bread?
8:19
It's yeah.
8:20
It was funny actually one night we went out for dinner.
8:23
And I got the currency conversion really wrong.
8:25
Like the whole time, the whole trip with the family.
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I was like, I got this.
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I know this is like 300 New Zealand.
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Or like, oh no, let's get this.
8:31
It's cheaper because it's 20 New Zealand dollars.
8:34
And this dinner was like small plates.
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And I was like, okay, I was like, my God, this place is so cheap.
8:40
And I just was in charge of the menu.
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And I just kept ordering and ordering.
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And my family's like, I'm full, I'm full.
8:45
I'm like, oh no, we'll just destroy one another.
8:47
Yep, yep, yep, cool.
8:48
Yep, we'll get one of those.
8:49
Cool.
8:50
I don't know what it is anyway.
8:51
I got the bill.
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And I was like, really fell off my seat.
8:53
I was like, oh my gosh.
8:55
I was like, I completely got the currency conversion wrong.
8:58
And so like these small plates that I thought were $3.60 New Zealand
9:04
were $36.
9:05
No.
9:06
And my sister was like, yeah, I was wondering why you just
9:08
kept ordering, like, willy-nilly.
9:10
And I was like, oh my God, why did you guys not say anything?
9:13
And then, yeah, it was quite embarrassing.
9:16
And they're like, oh my God, that does numbers for a living.
9:19
You know, I was like, oh gosh.
9:21
Oh, it was a bit of a...
9:23
The other thing I noticed, which is kind of related to this
9:26
podcast, is that the number of old people in Japan that were
9:31
working.
9:32
And it kind of got me thinking of it.
9:34
Like, Googling, like, why are there so many old people working?
9:39
You feel so sorry for them.
9:40
You look at them and you're like, you should not be pushing
9:42
that thing or you should not be serving that customer at that
9:46
till that you should be sitting down and joining the lady
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as your life.
9:49
And it's because...
9:50
Well, how old are you thinking?
9:52
Like, is this plus 80 or...?
9:54
Yeah, these are visibly old people.
9:57
You know, you're genuinely like, do you need some help?
10:00
Yeah.
10:01
Because of the lack of, like, retirement and subrenuation
10:04
funding there, as well as, like, people just wanting to be
10:07
part of society and not be excluded and marginalized.
10:12
So they want to keep working to be stimulated.
10:14
So it was quite interesting.
10:16
For me personally, it was quite noticeable.
10:18
But I think what you just said, they're two very, very
10:20
different things.
10:21
Like, if someone's choosing to work because they want to feel
10:23
part of society, that's different.
10:25
Yeah.
10:26
If they're having to work because there's not better government
10:28
funding or programs like Kiwi Save a Super pension,
10:32
and they get to, you know, what should be their golden years
10:36
and they're not able to stop working because they have to
10:40
afford to keep paying for their life.
10:42
That's super different to wanting to feel a part of
10:44
totally society.
10:45
Yeah.
10:46
There's also a big thing in Japan with an aging population.
10:49
So there is more older people than younger people.
10:53
And there's more older people than in other countries as well.
10:56
So it was like very obvious if that makes sense.
10:59
The number of older people.
11:01
But one thing as well, I was at Tokyo Station.
11:06
So let's put this into perspective.
11:08
Japan is the size of New Zealand.
11:10
Oh my God, hold on a second.
11:11
Is this what we talked about on the workshop on Tuesday?
11:14
Yeah.
11:15
Amazing.
11:16
Before it gives us a story, I've got one other story that you're going to...
11:18
Oh my God.
11:19
This is so fun.
11:20
I want to be doing a whole Japan breakdown.
11:21
You're going to kill me for this.
11:22
And I honestly don't even want to stay on a podcast.
11:25
You don't know, it was a bit of a rush to go on this holiday.
11:27
My mum was at me being like, what accommodation should we book?
11:30
My sister's at me being like, what restaurants?
11:32
And I just didn't have capacity to think about it.
11:34
And it wasn't until I literally got on the plane.
11:36
And I was like, right, okay, now I'm like on holiday.
11:38
And I can actually think.
11:39
And anyway, so it's like poor planning on my part.
11:42
And we did the first three days in Tokyo.
11:45
Then we went skiing.
11:47
But this is like the fourth day.
11:48
We're like up the mountain.
11:50
And I'm about to ski down this mountain.
11:52
And I'm like, holy shit.
11:55
I didn't get travel insurance.
11:59
Victoria?
12:01
I know.
12:02
Harris.
12:03
I mean, like that's not even, can I just say,
12:05
if you were going for like Paris for a weekend, one thing.
12:08
But skiing on a mountain.
12:11
I know.
12:12
That is like danger zone.
12:14
And then part of me tried to be like, well, no insurance.
12:16
Can't be one to show me because I'm going skiing.
12:18
And I tried to like, that's so not true, by the way.
12:20
Were you then just skiing like a total idiot, like trying to be like,
12:23
oh, no, can't go over that lump of snow.
12:25
I was so scared.
12:26
Because you can't get insurance once you're there, right?
12:29
Like once you're on the trip, you're actually,
12:31
you can't be like, oopsies, forgot that.
12:33
Need to get it.
12:34
Yeah.
12:35
Like you can't get it midway through.
12:36
And I, the first few runs I fell over and like got this massive bruise on my ass.
12:41
And I was like, cool, awesome.
12:42
And then later on that day, someone's skiing into me
12:46
and like, wrenched my thumb back and broke my pole.
12:49
Oh my god.
12:50
And I was like, oh my god.
12:51
Yeah, my pole's broken half.
12:53
That's quite intense.
12:54
I know.
12:55
And then he just skied on.
12:56
I was like, cool mate, thanks.
12:57
I'm dead with fuming.
12:59
Yeah.
13:00
So the whole ski trip, I was kind of a bit on edge.
13:03
And I remember the last run of the holiday.
13:05
I was like, yeah, I've made it.
13:07
No injuries.
13:08
Amazing.
13:09
And then, you know, toppled off to the airport,
13:12
said goodbye to my dad,
13:14
went to the gate to jump on the plane.
13:16
And I turned to people next to me at the gate.
13:19
And I was like, is there a reason we're not warning?
13:21
Like, is the flight delayed?
13:23
And they were like, have you not heard?
13:25
Heathrow's on fire.
13:26
And I was like, insurance.
13:28
Oh my god, you didn't have insurance.
13:30
And I was like, I was this close to getting away
13:33
on the holiday with no travel insurance.
13:35
I was like, damn you, Heathrow.
13:37
Oh my god.
13:39
What did you do?
13:40
And everyone was like rebooking flights.
13:42
And I was like, I can't.
13:43
I don't have insurance.
13:44
So I literally had to wait for 30 hours
13:46
and for the flight to re-rebooked.
13:48
In that situation though, does the airline give you a new flight?
13:52
Because it's their muck-up?
13:54
Yeah.
13:55
But if I had travel insurance, I could have cancelled my flight.
13:57
That would have been refunded to me.
13:59
I could have booked a new flight, maybe to Paris,
14:02
and then trained down.
14:03
Like, you know, like if I had to get back,
14:05
or if I had to get back to London for something super important,
14:08
that I missed like a concert or something,
14:11
then that would be refunded.
14:12
You know, like there's lots of things
14:14
that travel insurance will reimburse you for.
14:16
Victoria Harris, that is the lesson of a lifetime, isn't it?
14:20
It was quite like a nerve-wracking holiday.
14:21
I don't think I'll do no travel insurance again.
14:23
It wasn't relaxing.
14:24
Can you please tell the airport story?
14:26
Oh, yeah.
14:27
I mean, I'll tell the airport story.
14:28
So we were in Tokyo, and we were navigating.
14:30
We had 11 suitcases between me and my four family members.
14:33
We, in a city of 11 million people, it's commuter time.
14:37
Like it's 9 AM, rush hour traffic at Tokyo Station.
14:41
People are flying past us.
14:43
We're trying to read these Japanese characters.
14:45
There's noise on the loudspeaker.
14:47
We have no idea our tickets aren't working to get through the gate.
14:49
We're like going through with two suitcases, getting half-stocked.
14:52
It was a show at its best.
14:54
And I was yelling at mom's, yelling at dad's.
14:58
It was just like seeing out of a movie.
15:01
It was quite hilarious.
15:02
This is kind of laughing.
15:03
And then I turned around.
15:05
I was like, oh, I could see these people waiting.
15:07
And I was like, to these two girls.
15:08
I was like, oh, you guys go.
15:09
You guys go.
15:10
I'm sorry.
15:11
We kind of just a bit frazzled.
15:13
No, no, it's fine.
15:14
It's fine.
15:15
I was like, no, no, please go.
15:16
Like, please.
15:17
We're going to take a break.
15:18
And they go begging them.
15:20
Like, please, please, please.
15:21
They turn to me.
15:22
And they're like, no, no, sorry.
15:23
We just want to say we love the podcast.
15:26
We're big curve fans.
15:28
And I just, a part of me just died.
15:30
I was like, good, you're like, this is not good for brand awareness.
15:33
This is not good.
15:34
This is not good.
15:35
Good brand advertising.
15:36
And also, I was just instantly.
15:38
I was like, oh, my god.
15:40
Hi.
15:45
Me and my mum still yelling at me being like, hurry up tour.
15:48
And they're like, sister's losing her shit because she sees what going on.
15:52
Dad's kind of a bit deaf.
15:53
So he doesn't really know what's going on.
15:55
Oh, it's so good.
15:57
All these Japanese people are like, can you guys stop having conversation
15:59
in the middle of the train?
16:00
So it was just like so hilarious.
16:03
Anyway.
16:04
And then I was just like, we all may be out.
16:06
So I was like, so are you guys coming skiing?
16:08
They're like, no, we just going home.
16:10
I was like, oh, I was like, I kind of didn't even know what to say to them.
16:13
But shout out to those two girls having so much patience.
16:16
I am so sorry to get your names.
16:18
Oh, my god.
16:19
That is so funny.
16:20
You definitely lighten the situation between me and my family
16:22
because it was like this close to all of us losing it with each other.
16:25
And then sometimes that's a good thing.
16:27
You know, but actually I know exactly the point in the holiday you're talking about
16:31
where it's like stress levels are here.
16:34
You start behaving like a teenager.
16:36
Yeah.
16:37
And everyone is just like tired and had enough.
16:40
And it's just like if anyone that you knew saw you in that state
16:44
would be embarrassed, let alone someone that you hadn't actually met before.
16:48
And I don't know how long that was for me to be honest.
16:50
You know, like, it's got a car that's so awkward.
16:53
Yeah.
16:54
Okay.
16:55
She also just imagined you like frazzled.
16:56
No, no.
16:57
And then we're like.
16:58
Oh, so funny.
16:59
Oh, my god.
17:00
Like immediately turns it on.
17:03
Yeah.
17:04
So what are you investing?
17:05
Just like.
17:06
Yeah.
17:07
What are you investing?
17:08
Yeah.
17:09
What are you investing?
17:10
Yeah.
17:11
Should we maybe talk about something that's to do with the news?
17:15
No, no, I know that you and Rachel, my southern co-host, spoke about BYD.
17:20
Yeah.
17:21
I wanted to give a bit of an update because they've had a financial result.
17:25
And it's kind of the talk of the town at the moment because it's been competing
17:30
with Tesla for a number of years now.
17:32
So they've had a financial result and they're revenue has beaten Tesla's revenue
17:38
for the first time since 2000.
17:40
Oh, my god.
17:41
Yeah.
17:42
Oh, my god.
17:43
They're the biggest electric vehicle car making out in the world.
17:46
Oh, my god.
17:47
Yeah.
17:48
Shane Elon.
17:50
Yep.
17:51
What's their share price?
17:52
Obviously, we all know what's happened to Tesla's share price.
17:55
That's been going down because Elon Musk has been distracted by a Trump.
17:58
But the thing with BYD, so all these car makers, so like VDub, Ford, like BMW,
18:04
they've all tried to transition from being automotive manufacturers,
18:09
like combustion engine manufacturers to electric vehicle and hybrids and all of that.
18:15
Whereas Tesla's kind of kind of the gates being like,
18:17
we are electric vehicle first.
18:20
But what BYD has done is they are now the first major auto car maker in the world
18:27
that's made that transition successfully.
18:30
And that's really, really important because it allows these other car companies
18:35
or gives them hope or like, you know, shows that it can be done.
18:38
Well, it's also like, I mean, it's kind of, I guess, similar if you would look
18:43
like traditional banks versus like neo-digital banks.
18:45
Yeah.
18:46
But it's harder to be, to have a really beautiful technical experience
18:51
from like an app and blah, blah, blah, blah, if you're more of a traditional bank
18:54
because it just takes longer to implement chains.
18:57
Yeah.
18:58
If that's not how you've always been run.
19:00
And similarly with the EV space, it's like EV first, i.e. Tesla,
19:07
you kind of would just always assume would be a head of other car companies
19:11
because they started in that space.
19:13
I think that innovation would always be quite far ahead of a traditional car brand.
19:18
So the fact BYD's proved that wrong or like different is amazing.
19:22
And that's a really good example with the banks.
19:25
You know, if you've got some real old arcade system or product
19:28
and you're trying to change that into a new innovative thing,
19:31
it's going to take forever.
19:33
Whereas if you're kind of starting out the gates with the new innovative thing,
19:37
it's much easier to grow and scale and get people on board
19:41
and get investors in all of that.
19:43
So yeah, that's a really, really great example.
19:46
But the key thing with the issue with BYD is that it is a Chinese car manufacturer
19:52
and getting those cars out of China into big European or US countries
19:59
is what's hard now because there's so many tariffs on those cars.
20:02
So they're going to really struggle to kind of grow globally,
20:07
particularly in the US, which is the biggest market.
20:10
And that could really, really limit cars that are made in China
20:15
or the growth of cars that are made in China.
20:17
Like, what did the share price do?
20:19
Because when you first started speaking,
20:21
I was like, oh, surely the share prices threw the roof because that's amazing.
20:24
But are there people that are thinking, oh nah,
20:27
because like, if we actually look at the fact that tariffs are there now
20:31
and it's really hard for them to get international scale,
20:34
maybe investors are like, well done, but also,
20:37
I don't see you being able to beat Tesla long term.
20:41
Nah, it's still done fantastically well.
20:44
Like this year, it's up 45% and Tesla's down nearly 30%.
20:49
Shit.
20:50
So long BYD, short Tesla.
20:53
No, I would be doing the opposite.
20:55
What do you mean like buying Tesla or not BYD?
20:57
Yeah.
20:58
I think I want to do both.
20:59
Yeah, by both.
21:00
Because I feel like BYD.
21:02
Like, I have no doubt that Elon,
21:04
as much as I'm totally throwing him in the trash.
21:07
Like, he will turn it around.
21:08
Yeah.
21:09
I just know that he will.
21:11
If the share price keeps falling,
21:13
there's going to be shareholders will get start getting really pissed off
21:17
and blame them on.
21:18
And do you think he'll get pissed out?
21:19
No, I just think that they'll get really vocal
21:21
and aggressive towards the board about what are you doing
21:24
because Elon Musk is spread so thin.
21:26
That's what the conversations will be.
21:28
They're like, he's now in politics, he's got SpaceX,
21:32
he's got Twitter, he's got, you know, like it's,
21:34
they'll start, if the share price keeps falling,
21:36
then there could be repercussions from a CEO standpoint.
21:40
But he owns majority of the shares anyway.
21:42
So getting himself ousted will be difficult.
21:47
But the thing with BYD is that it's actually quite hard to invest in
21:50
for New Zealanders who can.
21:52
Because it's a Chinese company and Chinese companies are not available
21:56
and cheeses.
21:57
There is, it's kind of like a derivative of BYD.
22:01
It's like, it's not the actual stock,
22:04
but it mirrors the stock essentially.
22:06
So you can invest in it.
22:08
What is it?
22:09
If you look at BYD and cheeses, it'll come up,
22:12
but it just looks a bit funny.
22:14
It's not like the nice clean ticker of BYD that you would normally see.
22:17
But it is the sort of same stock.
22:19
This is the thing with Chinese companies.
22:21
It's just a little bit difficult.
22:23
But still doable.
22:25
Just like with LVMH that you're at the European stocks,
22:28
that wasn't available in cheeses, only available in hatch.
22:31
So when you start investing outside the US, New Zealand, Australia,
22:35
on cheeses, it gets a bit tricky.
22:37
And there is a new company coming to the New York Stock Exchange.
22:43
Oh my god, fun.
22:44
Who? What?
22:45
StubHub.
22:46
Do you know StubHub, the ticketing company?
22:48
Ticketing resale company?
22:49
No.
22:50
StubHub.
22:51
StubHub.
22:52
So it sounds like stubbies.
22:53
Yeah, no.
22:54
Stubbs isn't like ticket stops.
22:56
Not onto the name.
22:57
No.
22:58
Anyway, it's been around for a while.
23:00
But it's where you can resale and exchange your ticket.
23:04
So kind of like a VirgoGo.
23:05
Who you heard of that?
23:06
Yeah.
23:07
Yeah.
23:08
You're VirgoGo, I always think it's a scam.
23:10
I know.
23:11
I'm always like, oh no, I've ended up on a weird scam website.
23:13
Or you're just like, please.
23:14
You go to the constant.
23:16
You're like, please scan, please scan, please scan.
23:18
Yes.
23:19
Please go through.
23:20
Please go through.
23:21
Yeah, that happens to be a laneway.
23:22
I was like, they were like, sorry, your ticket's not working.
23:25
I was like, Jesus.
23:28
You know what?
23:29
If I was that ticket person at the gate, I'd be like, I feel sorry for you.
23:32
Obviously you are.
23:33
No.
23:34
I basically just hovered there and then the lady in front of me sort of forgot
23:36
what was going on.
23:37
They were like, what are you?
23:38
VIP or normal?
23:39
And I was just like, normal?
23:40
Oh my god, that happened to me at a concert in London.
23:43
All my friends at VIPs and I didn't.
23:45
And I was like, I'll just come with you guys in the queue.
23:48
And then we're kind of shuffled in and tickets getting scanned.
23:51
And they were like, how many VIPs?
23:53
And I was like, five.
23:54
Instead of four.
23:55
And they're scanning without it.
23:57
Oh, you're not VIP.
23:58
I was like, oh, yeah, no, no, no.
23:59
They're like, okay, we'll just make sure you don't go into that queue.
24:01
I was like, oh, okay, because I'm not going to go into that queue.
24:04
Let me see.
24:05
I was like, that is the worst thing to start totalling along.
24:10
Yeah, yeah.
24:11
There is nothing more embarrassing than being told you are not in this queue.
24:15
Or you do not have VIP or you're not allowed in here.
24:18
Like it's so stressful.
24:20
When we were younger getting into bars that would do that.
24:22
They'd be like, they'd just come here, come, walk up to the front with me.
24:24
And they'd be like, oh, I can't.
24:26
I would die.
24:27
I'm so calm.
24:28
And usually that'd get in.
24:29
And I wouldn't.
24:30
And then I'd have to go to the back of the queue and just wait with all the plebs.
24:33
And I was just saying, my god, yeah.
24:35
It was the most shameful thing watching someone try and get in.
24:38
And then not.
24:39
And then have to walk back to the end of the queue.
24:41
But anyway, speaking of tickets.
24:42
So this company's going to launch its IPO on the New York Stock Exchange.
24:46
So this is an IPO.
24:47
We even had many IPOs like that you've reported in a while.
24:50
No, we haven't.
24:51
And this is, it's a really good point that you make Sophie because a lot of IPOs.
24:56
Sophie, I have not heard you use my full name in a long time.
25:00
It is a reflection of the market.
25:04
Like usually IPOs will be paused when the market's kind of shilling itself.
25:08
Because it's like selling your house when the property prices are really good.
25:12
You know, you want to sell, you want to get the best dollars, the best demand,
25:17
the best price for the thing that you're selling.
25:19
And so if you're selling your shares on the Stock Exchange,
25:21
you want to make sure that there's your, it's in an environment that's really positive and healthy.
25:26
And so that's, you know, we haven't, we've seen a lot of IPOs kind of be paused
25:31
or just wait till we get better market conditions.
25:34
But my God, you know what?
25:36
And IPOs kind of like a bum that's far for a company.
25:39
It's like a coming of age, you know, or like a welcome to society ball for the company.
25:45
It's like, here I am.
25:47
I've been in my twin years and now I'm coming out.
25:50
Yeah.
25:51
Yeah.
25:52
And I want everyone as many people as a party.
25:54
So I want to do it at a really, really good time.
25:56
Yeah.
25:57
So they did try an IPO last year in July and they paused their plans.
26:02
And now they're kind of restarting.
26:04
And it was one of the reasons is that they had this huge bumper year
26:10
because of Taylor Swift.
26:12
So her era's toy.
26:14
Do you mean a stumper year?
26:16
Oh yeah.
26:17
Yeah.
26:20
Oh, I hate myself.
26:22
Sorry, can you keep going?
26:24
They decided to shake it off.
26:26
Shake off your IPO.
26:30
Well, you're on fire today.
26:32
This has been so far.
26:33
Yes.
26:34
So they have decided to re-ignite those discussions.
26:40
Anyway, they have actually spent this.
26:43
So the thing with IPOing is you lay your financial results out for your next naked body.
26:50
Naked body.
26:51
And this is why, you know, some companies won't IPO because they don't want either one.
26:56
They competed as to see their landing strip.
26:58
What their revenue is.
26:59
They want.
27:00
I've said their landing strip.
27:03
Yep, they don't want there.
27:04
Yep.
27:05
Oh my god.
27:07
There's nothing wrong with the landing strip.
27:09
I don't know why I said that.
27:11
Oh my god, that reminds me of in Japan.
27:14
The Onsen's?
27:15
Oh, yeah, yeah, amazing.
27:16
Yeah, well, you have to go naked.
27:17
Oh, do you have to go naked?
27:18
I didn't realise that.
27:19
Yeah, it's like culturally you have to go naked.
27:21
Oh my god, you had a naked onsen with your family?
27:24
No.
27:25
No.
27:26
No.
27:27
No.
27:28
No.
27:29
No, we got back from a day of skiing.
27:32
And obviously with your body sore, like you haven't skied in like, I haven't skied in
27:38
like years.
27:39
And I was like, really excited for an onsen.
27:42
And Mum comes bounding into our room and she's like, who's really for an onsen?
27:48
And me and my sister look at telling me like, absolutely not.
27:53
Like, anything worse than being sitting in a spa naked with my sister and my mum.
27:57
Wait, so she was suggesting it?
27:58
Yeah.
27:59
And I said, absolutely not Mum and she got really upset.
28:02
And I was like, I'm not going with my sister either, you know?
28:06
Like, you guys got first and then my sister can go and then I can go.
28:10
And it was such an experience.
28:12
It was like, oh my god, this is such a not finance chair, you know?
28:15
My mum went first and we're like, so what's it like?
28:18
You know, there's like protocol.
28:19
Like you go in, you have to take your shoes off outside.
28:21
You put your clothes in the cubby hole.
28:22
Then you have to like wash yourself with these buckets and you soap.
28:25
And then you can't splash anyone.
28:27
You've got to crouch down like this is whole thing.
28:29
And it's like cold cool.
28:30
And they really explain how to do it.
28:32
And you take your basket and you take your anyway.
28:34
Mum went, she comes back and she tells us how it went.
28:36
She's like, yeah, there's soap there.
28:38
There's soap and shampoo and stuff that you use to wipe your body.
28:40
And then you get into the onsen and I was like, okay, cool.
28:43
Then I went and I was like, cool, okay, get this on soap.
28:45
Just wash myself.
28:46
Yeah.
28:47
And then I came back and then my sister went and then she's like,
28:52
you know the soaps, like not free to use.
28:55
It's you have to take your own soap.
28:57
And I was like, no, but there was, I was like, oh my god,
28:59
I just was helping myself to someone else's soap.
29:01
And there's this lady and she was looking at me like, what are you doing?
29:04
And I was just like, mm, using her stuff.
29:08
She's looking at me like, that's mine.
29:12
And I was just like, tried to look like I knew what I was doing, you know?
29:16
Oh, I can imagine you're quite good with the fake confidence, you know?
29:20
Like, here I am.
29:21
I know what I'm doing.
29:22
Yeah, no, it's onsen.
29:23
I mean, just so many.
29:25
Oh my god, I can't believe your mum's just a family onsen.
29:29
Oh my god, I know.
29:30
Absolutely not.
29:31
Okay, that's the finance chat.
29:32
This has been so low on finance chat.
29:34
I know, sorry, everyone.
29:35
I'm going to finance chat.
29:36
But yes, anyway, stop hub.
29:38
So they spend, so when you, when you, that's what we got onto the naked chat,
29:43
when you IPO, you expose yourself, you're naked, you're financial results for everyone to see.
29:49
And one critique of sub-hub is that it spends 50% of its revenue on marketing.
29:56
Wow.
29:57
Yeah, so for every dollar that comes in the door, 50 cents goes and goes back into marketing spend to help it grow,
30:03
which is ridiculously high.
30:05
And so there's a lot of criticism around, you know, it's having to spend a lot to grow a lot.
30:10
Also, there's been, you know, exactly what you said.
30:13
So around the fact that it's just full of scammers and all of that.
30:18
So it'll be interesting to see how it goes, but it's good and it's healthy to see a company's coming to market and IPOing.
30:26
It's a sign of a healthy environment and healthy economy.
30:28
So yeah, hopefully we see more.
30:30
We've got Klanah coming this year as well.
30:32
Oh, that's quite exciting.
30:33
Yeah, it's going to be big.
30:34
I wonder how that will go.
30:35
Other news, Lulu Lemon also had a result this week or last week.
30:40
Can I guess, are they doing a shit?
30:42
I just don't see anyone wearing Lulu Lemon anymore.
30:45
Yeah, I remember back in the day, I used to be like, oh, that looks nice.
30:50
Well, she looks good.
30:51
And then I'd be like, you'd see the little Lulu Lemon logo.
30:53
Whereas now, I'm like, oh, that's a cool set.
30:56
And I'm like, oh, I don't actually know that logo.
30:58
Or it's like, it's not more often than, yeah, it's not Lulu Lemon.
31:02
Whereas, yeah, and it's exactly right.
31:05
This share price is down 10% this year and it's fallen again after this result.
31:10
And it is, you're right, exactly because of just so much competition.
31:14
Yeah, especially that brand Aloe.
31:16
Do you know that one?
31:17
Oh, yeah.
31:18
Yeah, it's everywhere.
31:20
Everywhere, yeah.
31:21
I've seen it a lot.
31:22
Have you been into a little lemon store lately?
31:24
No.
31:25
It's like what used to be yoga and yoga tops.
31:29
It's like they're trying to go more like streetwear.
31:32
And it's just, oh, yeah.
31:35
Like casual pants and tops.
31:37
I don't know, it's just weird.
31:39
You're kind of like, oh, am I in like a streetwear shop like a uniform or like a,
31:44
or am I in a yoga?
31:46
Because there's only, with yoga, there's only so many iterations of yoga pants
31:50
you can do before you, you know.
31:52
Are they having a bit of an identity crisis, maybe?
31:54
I think they're kind of clutching its drawers, to be honest, you know?
31:59
Trying to find growth.
32:00
Yeah, I was thinking this the other day when I was in a class and I honestly was looking
32:04
at all the brands and I was like, don't know what that is.
32:07
Don't know what that is.
32:09
There's a, I can't know what that is, but there was just so many different brands.
32:14
And it's weird.
32:15
I didn't necessarily think of it in a investing sense, but I just thought there's just
32:19
so many brands now.
32:21
There was a while there where Lululemon was the absolute go-to and everyone had it
32:26
and it was like hard to find any alternatives.
32:30
Now there's just so many.
32:32
And that's what you find with a lot of successful categories or like in small industries.
32:38
Like if we take RTDs, for example, like pals, found a niche, really, really grew.
32:44
And now there's like all these other drinks that are super similar coming to market.
32:48
So many.
32:49
I see the growth that this one company's had and they're like, oh my god, we want to be a part of that.
32:53
But everyone's thinking that at the same time.
32:55
And then you're like, it's kind of like this rat race.
32:58
And so I think that's what happened with Lululemon was they had this massive head start.
33:03
And everyone's like, oh my god, Etheliger, let's get in there.
33:05
That's such a booming industry.
33:06
And then you have these floodgates of like so many other Etheliger brands.
33:11
And I guess the thing is it's like it's positive to be the first out the gate.
33:15
But that doesn't mean that someone behind you can't overtake.
33:20
Like just because they were first, you can actually do it better.
33:24
And so it would always be like, it's the same with Uber.
33:27
Like when you start thinking about all of the competitors that have come out,
33:31
whilst Uber is still killing it, there's no reason why someone else couldn't come.
33:36
Take the same idea and do it better.
33:38
You could.
33:39
Oh, totally.
33:40
It's the same with EVs.
33:41
It's kind of like what we've just talked about with Tesla.
33:43
Like there's all these other brands now that are like, actually,
33:47
you reckon you've got a good product.
33:49
We've just created a battery that charges as fast as we knew fill up the car.
33:53
Like, yeah, that's huge.
33:55
And just because you're first out of the gate isn't that you're the one with all the innovation.
33:58
No, you've got to keep innovating.
34:00
And like that's what Nike, for example, they spend a lot of money on research and development,
34:04
marketing, innovation.
34:06
Like because they realize, you know, they are the kind of global sports brand.
34:10
But you've got to stay there.
34:12
You've got to, you know, to be able to maintain that position,
34:15
you have to keep innovating and looking at trends and doing all that.
34:18
You can't just rest on your laurels.
34:20
And so laurels, morals.
34:22
Yeah, I was about to say, I don't know.
34:24
I don't like that saying, like, where are your laurels?
34:26
Is it?
34:27
What is a laurel?
34:28
I don't know, but I feel like it's masculine.
34:30
Like, I feel like a laurel is like ball sack or something.
34:33
Or your butt.
34:34
Rest on your laurel.
34:35
Maybe.
34:36
I don't know.
34:37
We'll look that up later.
34:38
Yeah.
34:39
But yeah.
34:40
So you've got a...
34:41
If anyone knows what laurels are, can you please comment?
34:43
Where have you listened to your podcast?
34:44
Lastly, the price of eggs.
34:45
You're kidding.
34:46
Are we reporting the price of eggs?
34:47
The price of, honestly, it's actually quite hilarious.
34:50
Really?
34:51
People are smuggling eggs across the border.
34:53
They're smuggling them in these suitcases.
34:55
No.
34:56
They have gone from about three dollars.
34:58
Well, as if you can get a case of eggs, like successfully across the border.
35:02
I can't even get them home from the shop without smashing them all.
35:05
Oh my god, yeah, no need.
35:06
I was in Japan.
35:08
We had this...
35:10
No, actually.
35:11
There's like this tradition.
35:13
There's like these onsenes where you go in as a human and you warm up
35:16
and you're like, it's great for your joints and everything.
35:19
And there's onsenes outside where you cook eggs.
35:21
And so you go and buy a packet of eggs from the supermarket.
35:24
And you put them in and you get these soft boiled eggs.
35:27
You keep them for half an hour and you come back and they're the most...
35:30
Oh my god.
35:31
I can't wait to go to Japan.
35:33
This is just a massive advertisement for Japan.
35:35
Yeah.
35:36
And there was not a sale.
35:37
But anyway, I got a packet of six eggs from the supermarket
35:43
and was put on the counter.
35:45
I was ordering a coffee and went to pay for it on my payway of my phone
35:49
and my phone dropped and smashed all the eggs.
35:51
And I was like, oh no.
35:54
It's the most annoying thing.
35:56
Price of eggs.
35:57
Price of eggs in the US have gone from two dollars to ten dollars.
36:01
The shelves at empty shops are just not stocking them
36:04
because they're so expensive.
36:05
They're getting, they're coming out of cafes and restaurants
36:07
and saying, there is literally an egg shortage epidemic.
36:10
Why?
36:11
Because of bird flu.
36:13
It's like a whole lot of hens.
36:16
But also ozimpik.
36:18
Ozimpik people are eating higher protein
36:21
and snacking on eggs, which is quite wild.
36:25
I was like, this is the combination of two things.
36:30
Probably more the bird flu, definitely.
36:33
Someone said to me the other day, there's going to be like,
36:35
I don't know if this was you or someone else,
36:37
but like 200 million people in the US on ozimpik.
36:40
And like, or a quarter of the...
36:43
I can't remember if I was a bird.
36:45
Yeah.
36:46
It was ridiculous amounts of people.
36:48
It's fascinating.
36:49
I love reading the flow on a fix.
36:53
Like Levi's no longer having like eggs, eggs, eggs, egg, eggs,
36:57
genes.
36:58
They've cut down because there's like no one buying them.
37:00
They're getting rid of plus size clothing.
37:03
And just there's now like 40.
37:05
It's crazy, all they're like...
37:06
Flow on to them, eh?
37:07
Yeah.
37:08
Yeah.
37:09
And ozimps, gyms are getting rid of cardio machines
37:12
and putting in more weights and strength
37:14
because apparently you lose your...
37:16
There's a lot of muscle loss.
37:18
So it's like you have to strengthen your body again.
37:21
Which, I don't know, there's like all these fly on a fix
37:23
because I'm just like, it's crazy to think...
37:26
There's probably trends or things
37:29
or fly on a fix that we haven't even realised
37:32
are going to happen yet.
37:33
Do you know what I mean?
37:34
But it's well.
37:35
Eggs.
37:36
Yes.
37:37
I mean, smuggled...
37:38
It's actually illegal to smuggle eggs across the border.
37:41
So people are getting pulled up.
37:43
It's a 200% increase in egg seizures
37:47
across the US-Mexico border.
37:49
And sorry, egg...
37:51
Oh, seizing the eggs.
37:53
So I thought you said egg seizures.
37:55
So...
37:56
Wow.
37:57
Yeah, it's...
37:58
I don't know.
37:59
I've seen my friends in America posting.
38:00
My friend got her hands on a carton of eggs
38:02
and she posted on social media
38:04
and she was like, oh my goodness.
38:05
Do you know what this is?
38:06
Just get your own chickens, everyone.
38:08
Get some chicken.
38:09
I'd love to have some little chucks.
38:11
Raise your own hens.
38:12
I'm going to start a little chicken farm.
38:14
No, I'm going to smuggle...
38:15
I'm going to send eggs from London to the US.
38:18
There's no way I can...
38:20
I can't eat...
38:21
I honestly will just end up
38:23
with a big pool of gross broken eggs.
38:26
I won't be able to smuggle yet.
38:28
Scramble egg.
38:29
So that was all I had.
38:30
Sorry, this was not a very fine ante.
38:32
I feel like it was so fun.
38:34
Yeah.
38:35
Good to catch up.
38:36
We'll be back next week with more heavy-hitting journalism.
38:40
And listen to the day kids.
38:42
Everybody get travel insurance.
38:44
No matter where you're going, especially if you're going skiing.
38:46
Do as I say, not as I do.
38:48
And invest any of your spare money in the stock market.
38:50
Well, it's on sale.
38:51
It was so funny me and Flourman were driving the other day.
38:56
And we were talking about if you're...
38:59
What is a meme for your work life?
39:02
And it's kind of...
39:04
We were essentially just paying each other out.
39:07
And he starts laughing.
39:09
And I was like, well, you kept telling me.
39:11
And he was like, what's that saying?
39:13
Those who can't do, teach.
39:17
And I was like...
39:20
Quite good from him.
39:22
Quite good from him.
39:24
So you...
39:25
What did he get though?
39:26
Surely there's so many for him.
39:28
I was like, wanted to be an athlete, but didn't quite...
39:31
Oh, nice.
39:32
Yeah, yeah, nice.
39:34
Yeah, there was lots.
39:35
Yeah.
39:36
Something about being a dad, like all dad jokes,
39:38
but not having any children.
39:40
So you were handling lives.
39:41
Oh, yeah.
39:42
You know, like the sort of the dad humor.
39:44
Talk shit for a loving.
39:46
Or like, you know.
39:47
Oh, yeah, yeah, yeah, yeah.
39:49
Okay, well, as best to see soon, but I probably won.
39:52
No.
39:53
Okay, bye.
39:54
Thank you so much for listening to The Curve Weekly.
39:56
Make sure you hit the subscribe button to stay up to date
39:58
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40:00
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40:05
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40:06
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40:07
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40:09
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40:12
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40:15
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40:17
Bye.
40:18
Bye.
40:19
See you next Tuesday.
40:22
Wow.
40:23
See you next Tuesday.
40:25
I mean, Monday.
40:27
No, actually though, new episodes out every Tuesday.
40:33
Okay, quickly, The Curve was created to empower and educate
40:36
you about investing, but we are not financial advisors.
40:39
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40:42
and it doesn't provide personalized investing advice for your individual needs
40:45
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40:48
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40:51
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40:57
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40:58
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